James was gathering wood for the
1 answer:
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Answer:
See explanation
Step-by-step explanation:
Solution:-
- The demand function of a certain brand is given as price P a function of x quantity of goods ( in hundred ) demanded per month. The relation is:
P ( x ) = 50 Ln ( 50 / x ).
- The point price elasticity ( E ) of demand is given by:
- Where, dP / dx : is the rate of change of price ( P ) with each hundred unit of good ( x ) is demanded.
- To determine the " dP / dx " by taking the first derivative of the given relation:
P ( x ) = 50 Ln ( 50 / x ).
d P ( x ) / dx = [ 50*x / 50 ] * [ -1*50 / x^2 ]
= - 50 / x
- Hence the point price elasticity of demand is given by:
E = - ( P / x ) * ( 50 / x )
E = -50*P / x^2
- For an inelastic demand, ! E ! is < 1:
! -50*P / x^2 ! < 1
50*P / x^2 < 1
P < x^2 / 50
- For an unitary demand, ! E ! is = 1:
! -50*P / x^2 ! = 1
50*P / x^2 = 1
P = x^2 / 50
- For an inelastic demand, ! E ! is > 1:
! -50*P / x^2 ! > 1
50*P / x^2 > 1
P > x^2 / 50
2)
If the unit price is increased slightly from $50, will the revenue increase or decrease?
- We see from the calculated demand sensitivity d P / dt:
d P ( x ) / dx = - 50 / x
- We see that as P increases the from P = $50, the quantity of goods demanded would be:
50 = 50 ln(50/x)
1 = Ln ( 50 / x )
50/x = e
x = 50 / e
Then,
d P ( x ) / dx = - 50 / ( 50 / e )
d P ( x ) / dx = - e
- We see that if price slightly increases from $ 50 then the quantity demanded would decrease by e (hundreds ) goods.
- The decrease in the quantity demanded is higher than the increase in price. The revenue is given by the product of price P ( x ) and x:
Revenue R ( x ) = P ( x ) * x
= 50*x*ln(50/x)
Then the product of price and quantity goods also decreases; hence, revenue decreases.
Answer:
Step-by-step explanation:
We are given that,
The fall of the acorn is represented by the function,
Equating S(t) to 0 gives,
i.e.
i.e.
i.e.
Since, time cannot be negative.
So, i.e. 1.25 seconds is the time when the acorn will reach the ground.
Thus, from the figure below, we see that,
The interval in which the acorn is in the moving air is .
